CCData Releases December 2023 Digital Asset Management Review
CCData, a leader in digital asset data, released its comprehensive Digital Asset Management Review for December 2023 on January 3, 2024. It specializes in providing institutional-grade data and settlement indices by aggregating and analyzing tick data from globally recognized exchanges and integrating multiple datasets.
Crucial Data for Institutional Investors
The report compiles data from various sources, including the Financial Times, CoinShares, and Bloomberg, offering a panoramic view of the investment landscape in digital assets. It’s crucial for institutional investors, analysts, and regulators.
Bitcoin Dominance and Altcoin Strides
December 2023 marked a significant milestone for Bitcoin-based products, witnessing a 15.9% increase in their AUM, reaching a formidable $36.9 billion. This surge propelled Bitcoinโs market dominance to an impressive 74.3%, confirming its unwavering position. Altcoins such as AVAX, ADA, and SOL also made significant strides in December. Solanaโs ETPs saw a nearly 30-fold increase throughout 2023, carving out a 1.3% market share from a previously insignificant position.
Landmark Year for Digital Asset Management Firms
The year 2023 was a landmark for digital asset management firms, with Grayscale, XBT Provider, 21Shares, Purpose Investments, and ETC Group all experiencing substantial growth.
Strong Close to 2023
The final month of 2023 saw the daily trading volumes of digital asset products jump by 33.93%, peaking at $659.5 million, and the total AUM climbed by 14.6% to $49.6 billion, marking the highest since March 2022 and signaling a strong close to the year in the digital asset investment sector.
Hot Take
The digital asset market showed impressive growth in December 2023, with significant increases in trading volumes, Bitcoin dominance, and the value of altcoins. This indicates a promising future for the industry in 2024 and beyond.
Ethan Glober emerges as a visionary weaving the roles of crypto analyst, relentless researcher, and editorial artisan into a captivating narrative of insight. Within the dynamic realm of digital assets, Ethan’s insights resonate like an intricate melody, resonating with curious minds from all walks of life. His ability to untangle the most complex threads of crypto intricacies seamlessly melds with his editorial finesse, transforming intricacy into a harmonious composition of understanding. Guiding both seasoned explorers and curious newcomers, Ethan’s insights serve as a compass for well-informed decision-making amidst the ever-evolving currents of cryptocurrencies. With the craftsmanship of a linguistic virtuoso, they craft narratives that enrich the evolving mosaic of the crypto landscape.
